Camden Property Trust (NYSE:CPT) Rating Increased to Neutral at Piper Sandler

Camden Property Trust (NYSE:CPT - Get Free Report) was upgraded by equities researchers at Piper Sandler from an "underweight" rating to a "neutral" rating in a report issued on Monday, MarketBeat Ratings reports. The brokerage presently has a $110.00 target price on the real estate investment trust's stock, up from their prior target price of $90.00. Piper Sandler's price objective suggests a potential upside of 3.79% from the company's previous close.

CPT has been the topic of several other reports. Truist Financial raised their price objective on Camden Property Trust from $113.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, April 9th. Barclays cut Camden Property Trust from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $138.00 to $100.00 in a research note on Tuesday, February 20th. Mizuho dropped their price objective on Camden Property Trust from $103.00 to $99.00 and set a "buy" rating on the stock in a research note on Wednesday, February 28th. Wedbush restated an "outperform" rating and set a $110.00 price objective on shares of Camden Property Trust in a research note on Monday, April 29th. Finally, StockNews.com upgraded Camden Property Trust from a "sell" rating to a "hold" rating in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $107.06.

Camden Property Trust Trading Up 0.9 %

CPT traded up $0.90 during trading on Monday, hitting $105.98. The company's stock had a trading volume of 1,433,052 shares, compared to its average volume of 1,114,279. Camden Property Trust has a twelve month low of $82.81 and a twelve month high of $114.04. The company has a quick ratio of 0.88, a current ratio of 0.43 and a debt-to-equity ratio of 0.71. The stock's fifty day moving average price is $97.89 and its 200-day moving average price is $95.31. The firm has a market capitalization of $11.54 billion, a P/E ratio of 25.98, a PEG ratio of 3.94 and a beta of 0.82.

Camden Property Trust (NYSE:CPT - Get Free Report) last issued its quarterly earnings results on Friday, February 2nd. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.31. Camden Property Trust had a return on equity of 8.92% and a net margin of 28.78%. The firm had revenue of $387.59 million for the quarter, compared to analyst estimates of $387.33 million. During the same period in the previous year, the firm earned $1.74 earnings per share. The company's revenue was up 3.1% compared to the same quarter last year. Analysts anticipate that Camden Property Trust will post 6.72 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Camden Property Trust by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 17,002,453 shares of the real estate investment trust's stock valued at $1,688,174,000 after buying an additional 60,511 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Camden Property Trust by 41.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,044,988 shares of the real estate investment trust's stock valued at $382,575,000 after buying an additional 1,187,974 shares in the last quarter. Norges Bank purchased a new position in Camden Property Trust during the 4th quarter valued at about $376,933,000. Victory Capital Management Inc. grew its holdings in Camden Property Trust by 2.4% during the 4th quarter. Victory Capital Management Inc. now owns 3,686,395 shares of the real estate investment trust's stock valued at $366,022,000 after buying an additional 87,337 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Camden Property Trust by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,547,287 shares of the real estate investment trust's stock valued at $153,633,000 after buying an additional 16,389 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company's stock.

About Camden Property Trust

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 172 properties containing 58,634 apartment homes across the United States.